MO HB1414

Repeals and reenacts section 287.715, RSMo, regarding the annual surcharge imposed on workers' compensation policyholders and self-insurers to fund the Second Injury Fund.

Removes the three percent cap on the annual surcharge that policyholders and self-insurers must pay, allowing the surcharge percentage to exceed three percent if necessary to fund the Second Injury Fund.

Maintains the requirement that surcharges be calculated to generate approximately 110 percent of the moneys needed to be paid from the Second Injury Fund in the following calendar year, minus any existing fund balance.

Preserves existing procedures for surcharge collection, notification to policyholders within ten calendar days, quarterly payment requirements, and penalties for non-payment or late transfer of collected surcharges.

Applies to all workers' compensation policies and self-insurance coverages written or renewed on or after April 26, 1988, including state and political subdivision self-insurers.